Massachusetts Investors Trust Portfolio Overview

Active Through the Ages 00 0.00 000000000 0000 000 1000 0 00 0000000 00000000 00000000 00000000 0000000 900000 MFS® 1920s 1930s-1940s 1950s-1960s 1970s 1980s-1990s 2000s 2010s-2020s TIME MFS Creating the mutual fund Democratizing investing Establishing department Shaping legislation in-house research Growing a fund into a movement Entering the retirement market Pioneering active bonds Going global Strengthening client support financial crisis Crash of Integrating fixed income and equity investment teams Championing and defining the future of active INDUSTRY BACKDROP Speculative, expensive and illiquid investing New Deal Era after Crash of 1929 Need for regulation Boom period Consumerism and convenience ERISA legislation Birth of indexing Shareholder Primacy era begins 00000000 0000000 0000000 000000 000000 60000 000 0000000 0000000 000000 Globalization Advancement in technology Dot-Com Bubble Global Financial Crisis FOR INVESTMENT PROFESSIONAL USE ONLY. Not intended for retail investors. - Massachusetts Investors Trust MIT-RF-MT-USD-US-1Q24.2 Pandemic and Polycrisis ESG divide • 000 00 A History of Bold Action 57038.2 2

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